Bank of New York Mellon Corp Acquires 11,800 Shares of SkyWater Technology, Inc. (NASDAQ:SKYT)

Bank of New York Mellon Corp lifted its holdings in SkyWater Technology, Inc. (NASDAQ:SKYT) by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,891 shares of the company’s stock after purchasing an additional 11,800 shares during the quarter. Bank of New York Mellon Corp’s holdings in SkyWater Technology were worth $937,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SKYT. Geode Capital Management LLC increased its stake in SkyWater Technology by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 586,933 shares of the company’s stock valued at $5,330,000 after buying an additional 35,219 shares during the last quarter. UNICOM Systems Inc. bought a new position in shares of SkyWater Technology in the 4th quarter valued at about $1,728,000. SG Americas Securities LLC acquired a new stake in shares of SkyWater Technology in the fourth quarter valued at about $225,000. Baillie Gifford & Co. raised its holdings in SkyWater Technology by 65.4% during the fourth quarter. Baillie Gifford & Co. now owns 1,665,284 shares of the company’s stock worth $22,981,000 after acquiring an additional 658,431 shares in the last quarter. Finally, Barclays PLC raised its holdings in SkyWater Technology by 167.0% during the third quarter. Barclays PLC now owns 47,204 shares of the company’s stock worth $429,000 after acquiring an additional 29,523 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at SkyWater Technology

In related news, Director Gregory B. Graves sold 12,844 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.11, for a total value of $104,164.84. Following the sale, the director now owns 14,285 shares in the company, valued at approximately $115,851.35. This represents a 47.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 42.55% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of SkyWater Technology in a research report on Thursday, February 27th.

SkyWater Technology Stock Performance

NASDAQ SKYT opened at $8.05 on Wednesday. The firm has a market capitalization of $386.36 million, a P/E ratio of -23.00 and a beta of 3.38. The company has a current ratio of 0.87, a quick ratio of 0.78 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $9.50 and its two-hundred day moving average price is $9.93. SkyWater Technology, Inc. has a 1 year low of $5.63 and a 1 year high of $19.00.

SkyWater Technology (NASDAQ:SKYT) last issued its earnings results on Wednesday, February 26th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.10. SkyWater Technology had a negative net margin of 4.75% and a negative return on equity of 12.40%. The company had revenue of $75.49 million for the quarter, compared to analysts’ expectations of $74.25 million. As a group, research analysts anticipate that SkyWater Technology, Inc. will post -0.22 EPS for the current year.

SkyWater Technology Company Profile

SkyWater Technology, Inc, together with its subsidiaries, operates as a pure-play technology foundry that engages in the provision of semiconductor development, manufacturing, and packaging services in the United States. The company offers engineering and process development support services to co-create technologies with customers; and semiconductor manufacturing services for various silicon-based analog and mixed-signal, micro-electromechanical systems, and rad-hard integrated circuits.